| Jiangling Motors Corporation Limited | |||||||||||
| Predecessor: | JMCG truck production division | ||||||||||
| Type: | Public limited company | ||||||||||
| Location City: | Nanchang, Jiangxi | ||||||||||
| Location Country: | China | ||||||||||
| Num Employees: | 12,339 (December 2022) | ||||||||||
| Owners: | [1] [2] [3] | ||||||||||
| Industry: | Automotive | ||||||||||
| Products: | Automobiles | ||||||||||
| Production: | 281,594 (2022) | ||||||||||
| Revenue: | (2022) | ||||||||||
| Operating Income: | (2022) | ||||||||||
| Net Income: | (2022) | ||||||||||
| Assets: | (2022) | ||||||||||
| Equity: | (2022) | ||||||||||
| Module: |
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Jiangling Motors Corporation Limited, abbreviated JMC, is a Chinese automobile manufacturer. According to company and press reports, the largest shareholder of JMC is Jiangling Investment, a company controlled equally by the state-owned enterprises Changan and Jiangling Motors Corporation Group (JMCG).
The history of Jiangling Motors Corporation (JMC) can be traced to a truck repair shop opened in Nanchang in 1947 which operated under the name Nanchang Motors Repair Factory. A JMC predecessor started assembling vehicles in 1968. The company was granted the approval of Jiangxi Province Economic Restructuring Commission to be reorganized to establish a joint stock limited company on February 20, 1993. JMC A shares and B shares were listed on Shenzhen Stock Exchange on December 1, 1993, and September 29, 1995, respectively.
In the 1990s, Ford lost a bid against American rival General Motors for getting a joint venture deal with the Chinese manufacturer SAIC Motor.[4] In 1995, as part of its push for getting new Chinese partners, Ford acquired B shares equivalent to a 20% equity in JMC, becoming the second-largest shareholder.[5] [6] In 1996, JMC began selling its products in overseas markets, initially Egypt and the Middle East., the largest overseas market by volume for JMC is Chile.[7] In 1997, JMC and Ford started the production of their first joint product, the Ford Transit, with JMC supplying various key components (as engines and axles) and Ford the design. In 1998, after JMC issued additional B shares, Ford upped its stake to 30%. In 2013, Ford purchased more B shares, increasing its stake to over 30%.[8]
In late 2010, Jiangling released the first passenger vehicle of JMC under the newly launched JMC Yusheng sub-brand, the Yusheng S350 SUV.[9]
In 2013, JMC reorganized the heavy truck manufacturer Changan Taiyuan as a wholly owned subsidiary named JMC Heavy Duty Vehicle.[10] In mid-2021, JMC Heavy Duty Vehicle was sold to Volvo Trucks.[11] Volvo Trucks later terminated the acquisition agreement, leaving JMC Heavy Duty Vehicle as a JMC subsidiary., JMC Heavy Duty Vehicle production and sales are suspended.[12]
In December 2021, JMC and Ford established a Shanghai-based joint venture focused on the production of passenger cars. The venture is called Jiangling Ford Motor Technology (Shanghai) Company (Jiangling Ford). JMC owns a 51% and Ford a 49% of its stake.[13]
JMC produces vehicles under the JMC, JMC Yusheng, Ford and other brands and sub-brands. It has assembly plants around Nanchang (at Qingyunpu and the Xiaolan Economic Zone).[14] JMC also has a new energy vehicle plant (the Fushan plant) in the Xiaolan Economic Zone.[15]
A brand mainly for commercial vehicles
See main article: JMC Yusheng. A brand for passenger vehicles.
In June 2023, JMC unveiled Lexing, its first sub-brand aimed to only be used on new energy vehicles, and presented its first model, an electric light truck.[18]
A brand for pickup trucks and SUVs. Launched in 2023.[19]
The following table includes a list of annual sales according to company's data.
| 2010 | 178,999 | 126,641 | - | - | 52,358 | |
|---|---|---|---|---|---|---|
| 2011 | 194,588 | 135,993 | - | - | 58,595 | |
| 2012 | 200,008 | 134,485 | 8,346 | - | 57,177 | |
| 2013 | 230,006 | 148,061 | 14,160 | 392 | 67,785 | |
| 2014 | 275,858 | 177,036 | 26,708 | 38 | 72,076 | |
| 2015 | 262,756 | 165,512 | 19,651 | 33 | 77,560 | |
| 2016 | 281,019 | 163,219 | 37,346 | 52 | 80,402 | |
| 2017 | 310,028 | 211,672 | 29,151 | 636 | 68,569 | |
| 2018 | 285,066 | 218,257 | 6,892 | 1,516 | 58,401 | |
| 2019 | 290,058 | 189,317 | 1,551 | 1,080 | 98,110 | |
| 2020 | 331,098 | undisclosed | ||||
| 2021 | 341,008 | undisclosed | ||||
| 2022 | 282,008 | undisclosed | ||||
| 2023 | 310,008 | undisclosed | ||||
Although Jiangling Motor is a public-listed company in which Ford Motor Company only holds a minority stake, the former's sales volume is consolidated into the latter's.[22]